Proto Labs Positioned For Growth: Analyst Predicts Strong Gains Amid Digital Manufacturing Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2024
0mins
Source: Business Insider
- Analyst Coverage on Proto Labs, Inc.: Cantor Fitzgerald analyst initiated coverage on Proto Labs with an Overweight rating and a price target of $44.00, highlighting the company's potential to capitalize on market growth.
- Benefits of Proto Labs' Business Model: The analyst notes that Proto Labs' hybrid business model, combining in-house manufacturing and a supplier network, positions it well in the digital manufacturing market.
- Growth Potential for Proto Labs: The company is expected to benefit from the shift towards digital manufacturing, offering entirely digital end-to-end services that cater to customer needs with various capabilities.
- Industry Outlook and Estimates: An industry survey indicates a positive outlook for 2024, with significant revenue growth expectations. The analyst estimates EPS of $1.50 in FY24 and $1.71 in FY25.
- Investment Opportunities: Investors can access Proto Labs stock through ETFs like 3D Printing (The) ETF and Pacer BlueStar Engineering The Future ETF, as the company focuses on revenue growth and margin expansion.
Analyst Views on PRLB
Wall Street analysts forecast PRLB stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PRLB is 55.00 USD with a low forecast of 55.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 55.190
Low
55.00
Averages
55.00
High
55.00
Current: 55.190
Low
55.00
Averages
55.00
High
55.00
About PRLB
Proto Labs, Inc. provides comprehensive manufacturing service from prototyping to production. Its digital factories produce low-volume parts in days while Protolabs Network provides advanced capabilities and volume pricing through its manufacturing partners. Its services include injection molding, computer numerical control (CNC) machining, three-dimensional (3D) printing and sheet metal fabrication. Its injection molding services include plastic injection molding, liquid silicone rubber molding, and over molding and insert molding. Its CNC machining services include CNC milling, CNC turning, precision machining, threading options and finishing options. Its 3D printing services include metal 3D printing, multi jet fusion and advanced photopolymers. Its sheet metal fabrication services include laser cutting, punching, fabricated assemblies, and prototyping. It serves various industries, including medical, robotics, aerospace, automotive, consumer electronics and industrial equipment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
